SolarEdge Technologies (NASDAQ:SEDG) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of SolarEdge Technologies (NASDAQ:SEDG – Free Report) from a hold rating to a sell rating in a research note released on Saturday morning,Wall Street Zen reports.

Other equities analysts have also recently issued research reports about the stock. Royal Bank Of Canada upped their price target on shares of SolarEdge Technologies from $24.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Friday, September 11th. Morgan Stanley reduced their target price on SolarEdge Technologies from $35.00 to $33.00 and set an “equal weight” rating for the company in a report on Friday, September 11th. UBS Group raised SolarEdge Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $36.00 to $42.00 in a research report on Wednesday, August 26th. Wells Fargo & Company started coverage on SolarEdge Technologies in a report on Monday, June 29th. They issued an “equal weight” rating and a $36.00 price objective for the company. Finally, Citigroup boosted their target price on SolarEdge Technologies from $25.00 to $30.00 and gave the stock a “sell” rating in a research report on Monday, September 21st. Two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $39.20.

View Our Latest Analysis on SEDG

SolarEdge Technologies Stock Up 3.9%

SEDG stock opened at $34.38 on Friday. The business has a 50 day moving average of $34.24 and a 200 day moving average of $45.86. The firm has a market cap of $2.12 billion, a PE ratio of -7.64 and a beta of 1.44. SolarEdge Technologies has a twelve month low of $28.21 and a twelve month high of $81.25. The company has a quick ratio of 1.38, a current ratio of 2.03 and a debt-to-equity ratio of 0.85.

SolarEdge Technologies (NASDAQ:SEDG – Get Free Report) last released its earnings results on Wednesday, August 5th. The semiconductor company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.07. SolarEdge Technologies had a negative return on equity of 29.17% and a negative net margin of 20.29%.The business had revenue of $346.20 million for the quarter, compared to the consensus estimate of $341.15 million. During the same period in the previous year, the company posted ($0.81) earnings per share. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. On average, research analysts forecast that SolarEdge Technologies will post -1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On SolarEdge Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc purchased a new position in shares of SolarEdge Technologies during the 2nd quarter valued at about $76,095,000. Clal Insurance Enterprises Holdings Ltd purchased a new stake in SolarEdge Technologies in the 2nd quarter worth approximately $55,514,000. Meitav Investment House Ltd. increased its holdings in SolarEdge Technologies by 541.6% in the 1st quarter. Meitav Investment House Ltd. now owns 1,017,551 shares of the semiconductor company’s stock worth $51,946,000 after acquiring an additional 858,954 shares in the last quarter. ING Groep NV bought a new stake in SolarEdge Technologies during the 4th quarter worth approximately $13,848,000. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new stake in SolarEdge Technologies during the 1st quarter worth approximately $17,009,000. Hedge funds and other institutional investors own 95.10% of the company’s stock.

About SolarEdge Technologies

(Get Free Report)

SolarEdge Technologies, Inc (NASDAQ: SEDG) develops technologies for generating, storing and managing solar energy. The company is best known for its power optimizer and inverter architecture, which is designed to improve energy harvesting from photovoltaic panels and provide monitoring and control at the module level.

Its product portfolio includes power optimizers, residential and commercial inverters, battery-storage systems, backup-power solutions, electric-vehicle charging equipment and energy-management software.

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Analyst Recommendations for SolarEdge Technologies (NASDAQ:SEDG)

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